Air Lease Corp. (AL) Stake Boosted by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its position in shares of Air Lease Corp. (NYSE:AL) by 31.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 138,540 shares of the company’s stock after buying an additional 33,498 shares during the period. Oppenheimer & Co. Inc.’s holdings in Air Lease Corp. were worth $3,959,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Royal Bank of Canada raised its position in shares of Air Lease Corp. by 15.4% in the second quarter. Royal Bank of Canada now owns 1,400,715 shares of the company’s stock worth $37,510,000 after buying an additional 186,687 shares during the last quarter. Selz Capital LLC raised its position in shares of Air Lease Corp. by 3.6% in the third quarter. Selz Capital LLC now owns 1,029,800 shares of the company’s stock worth $29,432,000 after buying an additional 36,000 shares during the last quarter. Cambiar Investors LLC raised its position in shares of Air Lease Corp. by 9.5% in the second quarter. Cambiar Investors LLC now owns 1,024,007 shares of the company’s stock worth $27,423,000 after buying an additional 88,972 shares during the last quarter. Vontobel Asset Management Inc. raised its position in shares of Air Lease Corp. by 25.1% in the third quarter. Vontobel Asset Management Inc. now owns 1,373,979 shares of the company’s stock worth $39,270,000 after buying an additional 275,600 shares during the last quarter. Finally, Klingenstein Fields & Co. LLC raised its position in shares of Air Lease Corp. by 5.3% in the second quarter. Klingenstein Fields & Co. LLC now owns 725,474 shares of the company’s stock worth $19,428,000 after buying an additional 36,743 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Shares of Air Lease Corp. (NYSE:AL) traded down 1.11% on Tuesday, hitting $35.60. The company’s stock had a trading volume of 736,938 shares. Air Lease Corp. has a one year low of $22.47 and a one year high of $36.42. The stock has a 50-day moving average price of $31.79 and a 200 day moving average price of $29.25. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 10.81 and a beta of 1.54.

Air Lease Corp. (NYSE:AL) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. Air Lease Corp. had a net margin of 26.09% and a return on equity of 14.83%. The business earned $355.10 million during the quarter, compared to analysts’ expectations of $356.47 million. During the same quarter in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts predict that Air Lease Corp. will post $3.42 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 9th. Stockholders of record on Monday, December 12th will be paid a $0.075 dividend. This is a boost from Air Lease Corp.’s previous quarterly dividend of $0.05. The ex-dividend date is Thursday, December 8th. This represents a $0.30 annualized dividend and a dividend yield of 0.84%. Air Lease Corp.’s dividend payout ratio is 6.08%.

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A number of research analysts have recently weighed in on AL shares. Zacks Investment Research lowered Air Lease Corp. from a “hold” rating to a “sell” rating in a research report on Monday, October 10th. FBR & Co dropped their price target on Air Lease Corp. from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday, August 5th. Finally, Stephens began coverage on Air Lease Corp. in a research report on Tuesday, November 1st. They issued an “overweight” rating and a $48.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $45.94.

In other news, Director Robert A. Milton sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $31.73, for a total value of $951,900.00. Following the completion of the sale, the director now owns 30,889 shares of the company’s stock, valued at approximately $980,107.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 9.45% of the stock is currently owned by insiders.

About Air Lease Corp.

Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.

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